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The PGA Tour has reached a deal with Strategic Sports Group, a consortium of billionaire sports team owners, to infuse up to $3 billion into a new for-profit entity, PGA Tour Enterprises, that was officially launched Wednesday, the tour announced.
Under the terms of the deal, Strategic Sports Group, which is being led by Fenway Sports Group, would make an initial investment of $1.5 billion with the possibility of another $1.